EXPOSURE Usually a company has reach a certain level (we discuss about this later.) that enable them to offer to public for the second offering once the first round is ended. SCRUTINY For example, we take a great example from the company has blown the Malaysian internet these few years FARM FRESH! We can see that each of add on offering they made, the price is slightly higher than the earlier round. Meaning that the calculation of share issuance for the add on offering, for the second round has been different. Why is this happen? Imagine you have a set of land that you bought for USD1mill. Divided by 10 pieces of land. Go ahead, take a calculator. Then you sell one piece of that land for USD330,000. USD330,000 times 10, the value of the land is no more USD1mill anymore. Its worth USD3.3mill now! So, the value of the share now is no more the same as the first dilution. According to its valuation and market price due to buy/sell process from the capital gain player. BENCHMARK The key t